Toronto Dominion Bank Has $7.15 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Toronto Dominion Bank trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 24.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,726 shares of the company’s stock after selling 1,516 shares during the quarter. Toronto Dominion Bank’s holdings in MercadoLibre were worth $7,146,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vestor Capital LLC boosted its holdings in shares of MercadoLibre by 10.0% during the 4th quarter. Vestor Capital LLC now owns 88 shares of the company’s stock valued at $138,000 after acquiring an additional 8 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in MercadoLibre by 20.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after buying an additional 4,658 shares during the last quarter. Vanguard Group Inc. boosted its position in MercadoLibre by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 178,815 shares of the company’s stock worth $226,716,000 after buying an additional 4,065 shares during the period. Gulf International Bank UK Ltd grew its holdings in MercadoLibre by 33.4% during the 1st quarter. Gulf International Bank UK Ltd now owns 4,960 shares of the company’s stock worth $7,499,000 after acquiring an additional 1,241 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of MercadoLibre by 112,333.8% during the fourth quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock valued at $229,703,000 after acquiring an additional 146,034 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ MELI traded up $26.54 on Friday, hitting $1,651.69. 169,025 shares of the stock traded hands, compared to its average volume of 268,254. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27. The business’s fifty day moving average is $1,654.99 and its two-hundred day moving average is $1,619.18. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $1,825.00. The firm has a market capitalization of $83.74 billion, a price-to-earnings ratio of 73.90, a PEG ratio of 1.20 and a beta of 1.60.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share for the quarter, topping the consensus estimate of $6.64 by $0.14. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. The company had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the prior year, the company earned $3.97 EPS. The firm’s quarterly revenue was up 36.0% compared to the same quarter last year. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 33.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. UBS Group lowered their target price on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Barclays upped their target price on MercadoLibre from $1,800.00 to $2,000.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. DZ Bank upgraded MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target on the stock in a report on Tuesday, April 23rd. Wedbush reiterated an “outperform” rating and set a $1,800.00 target price on shares of MercadoLibre in a research report on Friday, May 3rd. Finally, Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and boosted their price target for the stock from $1,400.00 to $2,100.00 in a report on Monday, May 20th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average target price of $1,922.08.

About MercadoLibre

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.